Cash Converters Personal Loan

Cash Converters Personal Loan

Cash Converters Personal Loan

  • Bad credit borrowers OK
  • Borrow up to $2,000
  • Fast turn-around time
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What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • You'll be given a decision on your application from the lender and you could have the money in your account within 24 hours.
Click here to start your application >>

Borrow up to $2,000 from one of Australia's most established short term lenders.

If you're in need of financing and want to be sure you're borrowing from an established lender, you might want to consider a personal loan from Cash Converters. It's been in the lending business since 1984, and now Cash Converters is offering a personal loan that you can conveniently apply for online.

Whether you need funds to cover an unexpected expense, you didn't budget well enough to see you through the month or if you need to make a large purchase, Cash Converters has a loan that you might be eligible for.

Product NameCash Converters Personal Loan
Minimum Loan Amount$400
Maximum Loan Amount$2,000
Arrears Fee$33
Loan Termup to 12 months
Turnaround timeWithin 48 hours
Costs20% establishment fee + 4% monthly fee
RequirementsYou must be over 18 and have a steady income of at least $300 per week
Available to Centrelink Borrowers?Yes


  • Fast turnaround
  • Loan terms up to 12 months
  • Bad credit borrowers considered


  • 20% establishment fee
  • 4% monthly fee
  • Dishonour fee of $33
  • 18 years over
  • Reside in Australia
  • Earn over $300 per week

Main points to consider about the Cash Converters Personal Loan

This loan is available for a longer term than what is on offer with similar products. You can apply for up to $2,000 and repay it over a period of up to 12 months. You'll need to pay a fee to establish the loan and also ongoing monthly costs.

Features of the Personal Loan from Cash Converters

  • Fast application. The online application process will be assessed within 24 business hours.
  • Loan amount. You can apply for a loan between $400 and $2,000.
  • Quick turnaround. After your loan is approved your funds will be available in your account during the next business day.
  • How long you have to repay it. Repayment terms vary depending on your individual loan contract, but your loan will be repaid over a period of up to 12 months.

What fees apply?

Cash Converters Personal Loans come with a 20% establishment fee + 4% monthly fee. The longer you take to repay the loan, the more you'll end up paying in monthly fees. If you fail to make your repayments on time, a dishonour fee of $33 applies. There are no additional daily fees and no rescheduling fees.

Are you eligible for a Cash Converters Personal Loan?

Each loan application is assessed by a representative from Cash Converters, who will establish your ability to repay the loan. The minimum eligibility criteria are that you are over the age of 18 and reside in Australia, whereas everything else is judged on a case-by-case basis.

  • If you receive Centrelink payments: You can apply if you receive Centrelink payments, but what you borrow may be limited so that your repayments in any period do not exceed 25% of your gross income. This includes repayments to other lenders as well as the new loan you're applying for from Cash Converters.
  • If you're in a Part 9 Debt Agreement: You aren't eligible for a Cash Converters Personal Loan. However, if you have been successfully discharged from a Part 9 Debt Agreement you are able to apply.
  • If you're not an Australian resident: You're able to apply for this product if you're a resident or a 457 Visa holder. You aren't eligible for the Cash Converters Personal Loan if you aren't a resident, but you are eligible to apply for a Cash Converters Cash Advance in-store.
  • If you have bad credit: Cash Converters will consider your current financial situation when you apply, but are generally more lenient than the banks when it comes to bad credit. If they see you will be able to manage your loan, your application will be considered.
  • If you're a casual employee: You need to earn at least $300 per Week in order to be assessed, but you can still apply for a Cash Converters loan.

How you can apply

You can apply for a Cash Converters Personal Loan in-store or online. Applying is easy and the form shouldn't take longer than five minutes. To be eligible, you need to be over the age of 18 and reside in Australia. Have the following on hand to complete your application:

  • Your bank account history for the last 90 days where your income is deposited into
  • A copy of your Medicare card
  • If you receive Centrelink payments, you'll need a current income statement.

Once you've filled out the application form, Cash Converters will check the information and see if you fit their lending criteria. If you're approved, you'll be sent an electronic loan contract, and once you've signed it your loan amount will be transferred to you within Within 48 hours.

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105 Responses

  1. Default Gravatar
    BrittanyApril 3, 2019

    I would like to know why I keep getting declined on my application it’s saying 97% if my income goes to other expenses but Ive just worked my fortnightly pay out n it’s not true at all so don’t know here your getting that from

    • Avatarfinder Customer Care
      NikkiApril 4, 2019Staff

      Hi Brittany,

      Thanks for getting in touch! There are certain reasons and parameters that each lender follows to approve or reject an application and these parameters are not disclosed to the public. It would be best to contact them directly to know why you’re application was rejected.

      Hope this clarifies!


  2. Default Gravatar
    StevenNovember 26, 2018

    What happens if you don’t sign the loan contact?

    • Avatarfinder Customer Care
      JohnNovember 26, 2018Staff

      Hi Steven,

      Thank you for reaching out to finder.

      Definitely, you have a right to decline an approved loan. What you need to do though is to advise the loan provider directly that you wish to cancel the loan contract and not go through with it. Nothing negative will happen but please note that when you applied for the loan, a credit inquiry was done to your credit report. Hope this helps!


  3. Default Gravatar
    RayJune 18, 2018

    Hi Cash Converters Team,

    Just a quick enquiry with a personal loan that I applied for on Thursday. I haven’t received any feed back accept from the store that I applied through that it had been approved. Its now monday morning, so im just wondering if it did actually get approved. Any help with this matter will be greatly appreciated. Thanks.

    • Avatarfinder Customer Care
      NikkiJune 18, 2018Staff

      Hi Ray,

      Thanks for contacting finder.

      Sorry to hear about this delay.

      As much as we would like to help you, we are not a representation of this company or anyone we feature on our site. You’d really have to follow up with them on your application.

      Hope this clarifies!


  4. Default Gravatar
    DebraMay 4, 2018

    Hi I was approved a cash converters loan a couple of years ago & I never made my last repayment which since then has now incurred extra fees & has been handed over to a collection agency to obtain my outstanding money owed. Unfortunately at the time due to domestic violence situation I was in a very hard financial position as I have 3 children and had to leave everything that I owned behind and relocate and start life over again. I would like to know if I pay the $150 outstanding debt would I ever be able to get a loan approved from cash converters loans again?

    • Avatarfinder Customer Care
      NikkiMay 4, 2018Staff

      Hi Debra,

      Thanks for your message and for visiting finder – the leading comparison website & general information service built to give you advice in your buying decision needs. How are you doing today?

      We understand your situation and we are glad to know you are able to start over. :)

      Please note that we’re a product comparison website and we do not represent any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.

      You may have to contact the provider directly and arrange a payment plan to clear your debt with them.

      Cash Converters will consider your current financial situation. They are generally more lenient than the banks when it comes to bad credit.

      Hope this helps! Feel free to message us anytime should you have further questions.


  5. Default Gravatar
    KylieDecember 16, 2017

    Hi if I have received a contract and agreed does it mean I will be approved

    • Avatarfinder Customer Care
      JhezDecember 22, 2017Staff

      Hi Kylie,

      Thanks for your comment.

      You’ll be sent an electronic loan contract when your approved. Once you’ve signed it, your loan amount will be transferred to you within 24 – 48 hours.

      Kind Regards,

  6. Default Gravatar
    MeganNovember 11, 2017

    Hi, I have a 12 mth loan.I changed my bank and 2 of my direct debits got sent back so I started paying it myself every week through bpay but have ended up with a large number of $33 dishonour fees because it doesn’t show up on cashiers computers that I have been paying it so I am still now paying dishonour fees which I have not dishonored what can i do for it is hundreds

    • Avatarfinder Customer Care
      JoanneNovember 11, 2017Staff

      Hi Megan,

      Thanks for reaching out.

      I’m so sorry that this happened. For this issue to get resolved you may need to reach out to Cash Converters directly. It would be best if you bring this to their attention and perhaps present to them proof that you have diligently been making your payments and advise them about the status of the 2 payments that bounced back. Hope all goes well.


  7. Default Gravatar
    LiezlApril 21, 2017

    Hi Nathaniel,

    Thanks for your question. For a $400 loan with a 12-month term, average weekly repayment is $13. The total repayment amount for this loan is $672, based on Cash Converters’ loan calculator.


  8. Default Gravatar
    RobbieFebruary 10, 2017

    I want to borrow 400 how much will my repayments be for a fortnightly and if i want to pay it of fast what is the total repayment i owe

    • Avatarfinder Customer Care
      DeeFebruary 10, 2017Staff

      Hi Robbie,

      Thanks for your question.

      Using the loan calculator on Cash Converters’s website, a $400 loan with 12 months repayment period will have a weekly repayment of $13. If you would like to pay your loan earlier, you may be entitled to a discount. Please note that we do not represent Cash Converters so we cannot provide complete details of this discount. You may want to directly get in touch with them to inquire.

      If you want to compare other short-term loan, you can check and compare your options on this page.


  9. Default Gravatar
    JulieJanuary 2, 2017

    Just interested in finding out if your establishment fee can come out of your loan amount and how long if you apply online dose it take to find out if you have been approved.

    • Avatarfinder Customer Care
      DeeJanuary 2, 2017Staff

      Hi Julie,

      Thanks for your question.

      With Cash Converters, the establishment fee is deducted from your loan amount. Say, your loan amount is $5,000, you’ll only get $4,600 credited to your account.

      The sooner you completed the required documentation, the sooner you’ll be approved. Depending on who you bank with and if you are approved, you should be able to receive the borrowed funds in your account within 24 hours of submitting your complete application.


  10. Default Gravatar
    JacintaDecember 12, 2016

    Hi I was wondering how much a fight night do you pay for a $600 loan?

    • Avatarfinder Customer Care
      DeeDecember 12, 2016Staff

      Hi Jacinta,

      Thanks for your question.

      For a $600 loan with a 12-month term, fortnightly payment is about $38. You can directly visit Cash Converters website and use their loan calculator to know your repayments for a particular loan amount.

      You may also want to compare other short term loans on this page.


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